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Jack Parker shopping Le Parker Meridien in Midtown

Jack Parker Corporation is looking to sell its 729-room hotel Le Parker Meridien in Midtown. The developer has been showing Le Parker Meridien at 119 West 56th Street to potential bidders via Eastdil Secured, according to Real Estate Alert. The website reported that Steve Witkoff is among the prospective buyers. The hotel – which Parker developed – opened in 1981 and sources told Real Estate Alert it’s worth around $500 million. The 40-story building is … [more]

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Barry Diller’s feud with Durst gets ugly

Barry Diller is out for blood. The billionaire media mogul, who last month accused Douglas Durst of surreptitiously trying to block his $200 million park project on the Hudson River, took a shot at his nemesis at a Vanity Fair’s New Establishment Summit Thursday. Diller said he was dumbfounded when he was sued by a trio of people on the grounds they were trying to protect wildlife in the Hudson River, a tactic that anti-development groups … [more]

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Kushner secures $370M to refi Times Square retail condo

Jared Kushner’s Kushner Companies landed a $370 million loan from Deutsche Bank and SL Green Realty to refinance its 250,000-square foot retail condominium on West 43rd Street. The financing includes a $285 million senior note from Deutche Bank and a $85 million mezzanine loan from SL Green, the Commercial Observer reported. JLL’s Keith Kurland and Aaron Appel brokered the debt deals, which are 10-year terms, according to the CO. The new debt replaces a $295 … [more]

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Brookfield, Urban American mull selling Putnam portfolio

Brookfield Property Partners and Urban American Management are considering the sale of the massive Putnam multifamily portfolio in Upper Manhattan and on Roosevelt Island, The Real Deal has learned. The companies have not yet hired a broker to market the portfolio, which has nearly 4,000 apartments. But sources privy to the talks said they have met with a number of brokers in recent weeks, including a team from Savills Studley. Sources familiar with the portfolio … [more]

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Joe Moinian sells his Park Ave. co-op for $8.8M

If at first you don’t succeed, try, try again. After years unsuccessfully trying to sell his 4,000-square-foot co-op unit in 1045 Park Avenue, developer Joseph Moinian has finally found a buyer. The real estate mogul sold the five-bedroom penthouse on the 15th floor to Robin Rankin, head of mergers and acquisitions at Credit Suisse. She paid $8.8 million for the pad, according to Department of Finance records. The full-floor apartment comes with an expansive living … [more]

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City could require developers to reserve units for the homeless

Changes made to the city’s affordable housing guidelines could require developers with subsidized units to board homeless New Yorkers currently living in emergency shelters. According to an updated marketing handbook quietly released by the city’s Housing Preservation and Development agency this week, developers whose buildings receive financial assistance from HPD and the Housing Development Corporation could be forced to redesignate units set aside for community members and the disabled to city residents living in homeless … [more]

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Airbnb files suit against Schneiderman, de Blasio

Airbnb filed a federal lawsuit Friday afternoon naming state Attorney General Eric Schneiderman, Mayor Bill de Blasio and the City of New York as defendants after Gov. Andrew Cuomo signed a bill into law earlier in the day banning the advertising of illegal short-term listings. The $30 billion San Francisco-based startup filed the civil lawsuit in Manhattan’s Southern District court claiming a deprivation of Constitutional rights. “It is an unjustifiable content-based restriction on speech in … [more]

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Andrew Madoff’s UES home sells for $5.4M

An Upper East Side apartment formerly owned by Andrew Madoff, the late son of convicted fraudster Bernie Madoff, has sold for $5.4 million. Madoff’s estate listed the condominium unit at 429 East 74th Street for sale at $5.9 million in February, two years after he died from cancer at age 48. He reportedly left behind a $15 million fortune, which was to be divided among his ex-wife, his daughters and his fiancee Catherine Hooper. He … [more]

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Cuomo signs bill banning illegal Airbnb listings

Gov. Andrew Cuomo signed a bill into law Friday that prohibits New Yorkers from advertising illegal listings on home-sharing websites like Airbnb, which has pledged to fight back with legal action. The bill sat on Cuomo’s desk for months after the state Legislature approved it in June, while Airbnb waged a campaign to persuade the governor to veto the measure ahead of the Oct. 29 deadline. Cuomo signed the bill Friday, citing concerns critics have … [more]

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Tesla and the Hyperloop will transform real estate: panel

The biggest thing to happen in real estate in recent history is Tesla, according to CoStar’s CEO Andrew Florance. Or more broadly, driverless car technology. “The most important tech announcement for commercial real estate in the last 10 years was Wednesday,” Florance said during a tech panel at the SIOR conference at the Sheraton Hotel in Midtown on Friday. “When Elon Musk got up and talked about the fully autonomous Tesla.” Florance was responding to … [more]

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